FRANKFURT (Reuters) – Allianz kept its guidance for operating profit of more than 9 billion euros ($12 billion) in 2012, after estimating its hit from last year's superstorm Sandy in the United States at $590 million.

Sandy, which killed 132 people as it swept through the northeastern United States on October 29, is expected to cost the insurance industry up to $25 billion, making it the second-costliest storm after hurricane Katrina in 2005.

However, for European insurers, Sandy was the worst event in an otherwise moderate year for damage claims, allowing many companies to stay on course for their full year profit goals.

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